AvSuper has selected an investment manager to direct its global infrastructure portfolio.

The $1 billion industry fund has appointed RARE Infrastructure to manage $10 million in global infrastructure securities.

The mandate with the Treasury Group-backed boutique marks the fund’s first commitment to infrastructure.

In a statement, Michelle Griffiths, AvSuper chief executive officer, said RARE would aim to provide stable returns with an income stream by investing in businesses with operations such as gas networks and pipelines, water networks and electric utilities, airports and toll roads, and logistics and communications infrastructure.

“Listed global infrastructure has solid foundations and is set to grow strongly over the next five to ten years,” Griffiths said.